Registered number
11983668
Bridport MBS Limited
Filleted Accounts
31 May 2023
Bridport MBS Limited
Registered number: 11983668
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 54,020 4,632
Current assets
Debtors 4 31,586 20,215
Cash at bank and in hand 36,646 68,954
68,232 89,169
Creditors: amounts falling due within one year 5 (40,721) (29,339)
Net current assets 27,511 59,830
Total assets less current liabilities 81,531 64,462
Creditors: amounts falling due after more than one year 6 (25,147) -
Net assets 56,384 64,462
Capital and reserves
Called up share capital 104 104
Profit and loss account 56,280 64,358
Shareholders' funds 56,384 64,462
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Garley
Director
Approved by the board on 15 February 2024
Bridport MBS Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons & directors employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 8,887
Additions 68,813
At 31 May 2023 77,700
Depreciation
At 1 June 2022 4,255
Charge for the year 19,425
At 31 May 2023 23,680
Net book value
At 31 May 2023 54,020
At 31 May 2022 4,632
4 Debtors 2023 2022
£ £
Trade debtors 2,479 7,976
Other debtors 29,107 12,239
31,586 20,215
Included in Other Debtors is £29,401 (2022 £Nil) due by the directors, J Garley. This is to be
repaid after date.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,393 1,822
Taxation and social security costs 1,395 26,017
Other creditors 37,933 1,500
40,721 29,339
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 25,147 -
7 Other information
Bridport MBS Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
United Kingdom
Ha7 1JS
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